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* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of MHK
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Mohawk Industries Inc stock upgraded to Hold/Accumulate.
(Updated on May 03, 2024)

Hold candidate since May 03, 2024 PDF

The Mohawk Industries Inc stock price gained 0.649% on the last trading day (Friday, 3rd May 2024), rising from $115.62 to $116.37. During the last trading day the stock fluctuated 3.99% from a day low at $115.85 to a day high of $120.47. The price has risen in 6 of the last 10 days and is up by 6.88% over the past 2 weeks. Volume fell on the last day by -60 thousand shares and in total, 411 thousand shares were bought and sold for approximately $47.77 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Mohawk Industries Inc stock with a 90% probability to be traded between $109.99 and $133.56 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

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MHK Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 7.67%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Mohawk Industries Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $118.70. On a fall, the stock will find some support from the short-term average at $115.19. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for Mohawk Industries Inc stock

Mohawk Industries Inc finds support from accumulated volume at $115.45 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $4.62 between high and low, or 3.99%. For the last week, the stock has had daily average volatility of 3.62%.

Our recommended stop-loss: $111.79 (-3.94%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 11 days ago.)

Trading Expectations (MHK) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Mohawk Industries Inc to open at $117.56, and during the day (based on 14 day Average True Range), to move between $112.47 and $120.27, which gives a possible trading interval of +/-$3.90 (+/-3.35%) up or down from last closing price. If Mohawk Industries Inc takes out the full calculated possible swing range there will be an estimated 6.70% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $117.24 (0.75%) than the support at $115.45 (0.79%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Mohawk Industries Inc stock A Buy?

Mohawk Industries Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.709 Hold/Accumulate Upgraded

Predicted Opening Price for Mohawk Industries Inc of Monday, May 6, 2024

Fair opening price May 6, 2024 Current price
$117.56 ( 1.03%) $116.37

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for MHK

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 122.18 5.00 %
R2 120.42 3.48 %
R1 119.33 2.54 %
Current price: 116.37
Support S1 115.80 -0.491 %
S2 114.71 -1.43 %
S3 112.94 -2.94 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 121.56 4.46 %
R2 118.43 1.77 %
R1 117.24 0.748 %
Current price 116.37
Support S1 115.45 -0.791%
S2 115.28 -0.94%
S3 110.01 -5.47%

FAQ

What is the symbol for Mohawk Industries Inc Stock and on which exchange is it traded?
The symbol for Mohawk Industries Inc is MHK and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Mohawk Industries Inc Stock?
Mohawk Industries Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

How to buy Mohawk Industries Inc Stock?
Mohawk Industries Inc Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Mohawk Industries Inc Stock.

What's the current price of Mohawk Industries Inc Stock?
As of the end of day on the May 03, 2024, the price of an Mohawk Industries Inc (MHK) share was $116.37.

What is the 52-week high and low for Mohawk Industries Inc Stock?
The 52-week high for Mohawk Industries Inc Stock is $131.18 and the 52-week low is $76.02.

What is the market capitalization of Mohawk Industries Inc Stock?
As of the May 03, 2024, the market capitalization of Mohawk Industries Inc is 7.432B.

When is the next earnings date for Mohawk Industries Inc?
The upcoming earnings date for Mohawk Industries Inc is Jul 25, 2024.
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About Mohawk Industries Inc

Mohawk Industries Mohawk Industries, Inc. designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces in the United States, Europe, Russia, and internationally. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW). The Global Ceramic segment provides a range of ceramic tile, porcelain tile, and ... MHK Profile

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